Gaining an experience abroad is a true dream for many students. Whether it's to experience a new culture, improve your language skills or even to further your career, a semester abroad can be the perfect step to do this. But for many students the question arises: How can I finance this??? In this article, you will get five tips on how to finance your semester abroad without going into debt. The first tip refers to the possibilities of financing through scholarships. There are a variety of offers here, provided by the universities themselves or also by organizations and foundations. To receive a scholarship, however, usually requires a very good academic performance as well as a high level of commitment in the social and cultural spheres. Another tip is the possibility to complete a semester abroad as an internship. Not only can you gain valuable experience, but you can also cover some of the costs with an internship salary or compensation from your employer. You can find suitable internship offers, for example, at companies or also at the German Chamber of Commerce abroad. As a third tip, it is advisable to look for a part-time job. However, you should make sure that the work permit in your host country is in accordance with the regulations and that you still keep an eye on your studies. However, a part-time job can help you to cover your costs for accommodation and meals on site. A fourth tip is to consider taking out a loan. Here there are different offers from banks or even special student loans for students. It is important, however, that you draw up a realistic repayment plan and take care not to accumulate excessive debts during your studies. Last but not least, our fifth tip is to use online platforms and crowdfunding. Here you can gain potential supporters for your semester abroad, who would like to support your plans financially. You can also draw attention to yourself in this way in social networks or special forums for students abroad. Summary: Financing a semester abroad is no easy feat, however, there are a variety of ways to fulfill this dream. Through early and careful planning and research, you can find the financing option that is right for you and experience an unforgettable semester abroad.
Tips for financing a semester abroad
BAföG is one way of financing a semester abroad. BAföG stands for Bundesausbildungsförderungsgesetz (Federal Education and Training Assistance Act) and is a financial support for pupils and students. The application for BAföG must be submitted in time and there are certain requirements that must be met. This includes, for example, proof of sufficient performance in your studies and the amount of your parents' financial support income. It is important to find out early on whether you are eligible for BAföG and how much funding you will receive.